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Showing posts from February, 2008

Should India remain a socialist republic?

In the constituent assembly in 1948, Dr B R Ambedkar, the chairman of the drafting committee, had clearly reasoned why no political ideology, socialism or anything else, should be included in the Constitution, binding the future generations. But in 1976, under her emergency rule, Prime Minister Indira Gandhi introduced the 42 amendment which among many other things, also introduced "socialism" in to the preamble. Now, 0ver fifteen years since India began to liberalise and reform our economic system, and began a slow journey moving away from the socialist policies that had strangulated the economy, "Should India remain a socialist republic?" I ask this question in view of a recent PIL that raised the same question in the Supreme Court, on 5 February 2008. Last month, the Supreme Court issued notice to the Government of India and the Election Commission in response to a petition questioning the constitutionality of India being a socialist state. The judges wanted to...

Free India's land market

It is legal to invoke eminent domain to acquire private land for industrial projects, even though the investors could afford to buy the land. But why can't a farmer buy a thousand acres. In this article " Free India's land market ", published in the Mint, on 4 February 2008, I look at the problems affecting land market. Small as it is, the Tata Nano has sent the world automobile sector into a big spin. The Nano reflects the potential of the new industrial revolution, which has so far passed India by. However, for the manufacturing to take firm root, the land needs to be prepared. The Nano has been developed in four years. But Tata Motors may not have been able to buy the necessary land from landowners during the same period. Which leads us to the question: Why is it legitimate to acquire land for industrial use, but prohibit farmers from consolidating and expanding their landholding to improve agriculture? Why shouldn’t a farmer be able to legitimately acquire a th...